BC government orders City of Vancouver to add 29,000 homes over the next five years

The City of Vancouver must catalyze the completion of 28,900 new additional homes over the next five years, as mandated by the Government of British Columbia’s Housing Supply Act. This target order is four times higher than the next highest target order, held by the City of Abbotsford. The order includes 8,015 ownership homes and 20,886 secured purpose-built rental homes, including 12,992 market rental units and 7,894 below-market rental units. The annual targets for the City of Vancouver over a five-year period have been established. Other cities affected by the Act include the City of Abbots